ICT YT - 2024-01-10 - What The No 1 Day Trader On YouTube Could Do With Funded Accounts and Trade Copier
Last modified by Drunk Monkey on 2024-01-12 10:30
Outline
ICT YT - 2024-01-10 - What The No 1 Day Trader On YouTube Could Do With Funded Accounts and Trade Copier
00:00 - Trading with a funded account using simulated capital.
- ICT plans to trade with a funded account using $100,000 of simulated capital.
01:44 - Trading with simulated money and scaling up accounts.
- Trader seeks to scale up trading accounts with simulated money, aiming for $1 million in 6-12 months.
03:17 - Annotating charts for trading with context.
- ICT highlights an area of potential buying interest on a 1-minute chart.
- ICT emphasizes the importance of annotating charts with clear and organized labels to facilitate logging and journaling for continuous growth.
06:56 - Trading strategies and money management.
- ICT plans to use proper money management and compound interest to trade in the Robins cup in 2024, starting with 40,000 or $40,000.
08:15 - Trading and becoming a millionaire.
- ICT emphasizes the importance of personal responsibility, accountability, and discipline in trading.
- ICT shares a strategy for making $100,000 in a year through multiple funded account companies, with the potential to reach $1 million net profit.
Transcription
| 1 | 00:00:00 --> 00:00:12 | ICT: Alright, looks something a little different today. So, obviously, you can see that this is not going to employ the Market Replay. The market is open. So |
| 2 | 00:00:12 --> 00:00:23 | it's occurring on January 10 2004. The time is always set on trading you to New York local time. You can see there's a countdown to close on the candlestick |
| 3 | 00:00:23 --> 00:00:42 | price axis. Okay, so I'm trading with the E Mini s&p. And the question that I'm going to pose to you is if ICT was betrayed with a funded account. And he were, |
| 4 | 00:00:43 --> 00:00:56 | he was rather able to use $100,000 of simulated capital over the span of a period of time, and then using 10 of them. Okay, so you see a lot of these |
| 5 | 00:00:56 --> 00:01:10 | fellas out there, they got these, these accounts that are linked together. And they have this you see these relative equal highs here, that's what we're going |
| 6 | 00:01:10 --> 00:01:22 | to aim for today. Do that like that. And I'll probably take something off inside this little area here, because that's a premium array. It's a fair value get in |
| 7 | 00:01:22 --> 00:01:34 | the form of Southside unbalanced by sun and efficiency. Okay, so I'm doing this with the account that my son usually uses. So he practices or I'll do something |
| 8 | 00:01:34 --> 00:01:46 | and he'll go in and back test it. Okay. So I'm showing here, the math is based on this is the account that I'd be trading. And the assumption would be if I was |
| 9 | 00:01:46 --> 00:01:55 | trading this simulated account with the funded account firm, and then I had nine other accounts copying whatever I do in this account. So because I don't have a |
| 10 | 00:01:55 --> 00:02:03 | trade copier, I don't know how to, I don't even know how to do a trade copier to be honest with you. We're gonna have to use the math of 100 contracts, which |
| 11 | 00:02:03 --> 00:02:12 | will be the equivalent of me trading 10 contracts per individual $100,000 funding account, okay. So that we understand each other in the math behind |
| 12 | 00:02:12 --> 00:02:20 | everything. So that's the business here. Now, you might look at this and say, well, that's a lot of money. Well, first of all, you're trading with simulated |
| 13 | 00:02:20 --> 00:02:31 | money. So I'm not sure why anybody is. me making a big deal about being seven figure funded because you don't have seven figures, unless you can go out and |
| 14 | 00:02:32 --> 00:02:42 | write a check for seven figures, you don't have seven figures. So if each individual account was being implemented here, with the same setup your same |
| 15 | 00:02:42 --> 00:02:56 | gearing, same risk, it's only $700. So it's less than 1%, or what the equivalent would be of three quarters of 1% risk. But with the intent to parlay these |
| 16 | 00:02:56 --> 00:03:07 | accounts up, for the Express purposes of trying to breach a million dollars inside of a span of six to 12 months. I don't know why you guys aren't, you |
| 17 | 00:03:07 --> 00:03:15 | know, at least thinking like this, you're trying to risk everything on every single trade over leveraging everything and for the sake of just trying to have |
| 18 | 00:03:16 --> 00:03:25 | online clout. So using this gearing here, we're going to drop down into a one minute chart or follow along with it. And right up in here, this is a really |
| 19 | 00:03:25 --> 00:03:40 | nice little area. I suspect maybe a initial draw. So we'll we'll we'll note that right there. Okay, so there's buy stops resting read about that. And it's a |
| 20 | 00:03:40 --> 00:03:44 | minor by say, liquidity pool |
| 21 | 00:03:52 --> 00:03:59 | it's going to be top left. Okay. And up here |
| 22 | 00:04:04 --> 00:04:09 | is that 15 minute relative equal High School note that is by side? |
| 23 | 00:04:26 --> 00:04:36 | Alright, so what that means is, when you're annotating while you're learning, I would add, by the way, if I was using smaller leverage, and not trying to do the |
| 24 | 00:04:37 --> 00:04:46 | presentation, I'm trying to showcase here as a fair value get with an oral block. That is about the sentence up into this area here. So that's the business |
| 25 | 00:04:46 --> 00:04:56 | there. But this, this is how you would annotate your charts that way when you're looking at the lower timeframes referring to higher timeframe, PV arrays. When |
| 26 | 00:04:56 --> 00:05:06 | your invitations are placed in your chart, you want to make them useful. because you may have a level that's highlighted. And I'm guilty of this when sometimes |
| 27 | 00:05:06 --> 00:05:17 | I'm doing a presentation or recording an actual trade account that's live or even if it's a paper trading demo account, if you see me having certain |
| 28 | 00:05:17 --> 00:05:28 | annotations shown on the chart, you may not really know what that level is, unless I've drawn it out or made specific specific attention to it. So when |
| 29 | 00:05:28 --> 00:05:34 | you're annotating your chart, you want to make them useful to you. So like, for instance, you because we were looking at the 15 minute timeframe, let's go back |
| 30 | 00:05:34 --> 00:05:48 | up to it. That's these are here. And because of that, that's what the RT H stands for. So relatively equal highs. And it's by sign, and it's derived from |
| 31 | 00:05:48 --> 00:05:58 | the 50 minute time frame. Otherwise, if I'm just showing you this timeframe here, or even worse, if I was showing you something like a 15. Second chart, you |
| 32 | 00:05:58 --> 00:06:08 | would have no context as to why I would even have these levels on the chart. So it's really important, as you annotate your charts, you want to be, I guess, |
| 33 | 00:06:11 --> 00:06:20 | mindful of what you're annotating, and making sure you're very organized about what you're doing for logging purposes, and journaling, because it's real |
| 34 | 00:06:20 --> 00:06:29 | important. Every business that's aiming to be successful and continuously growing in profitability. They always manage their key performance indicators, |
| 35 | 00:06:29 --> 00:06:43 | that's KPIs. So if you're not doing that, and that's largely attributed to journaling, logging your progress, monitoring your psychology, each time you're |
| 36 | 00:06:43 --> 00:06:57 | taking a trade, your post trade psychology, try not to get too sugar high, or become a sourpuss about you taking a loss or having drawdown. You probably hear |
| 37 | 00:06:57 --> 00:07:05 | my puppies in the background, they're in their kennels. So you're gonna see there's that little lucky fear of a gap entry right there that I said I would |
| 38 | 00:07:05 --> 00:07:16 | have taken if I wouldn't have been in this trade, that right there, that is your silver bullet, that type of trade, that's, that's really what I'm gonna be doing |
| 39 | 00:07:16 --> 00:07:27 | in the Robins cup in 2024. That's all I don't need to do all these other big ones. Okay? To do that, it would only take me about nine weeks, and I'd win. But |
| 40 | 00:07:28 --> 00:07:39 | I kind of like want to make it realistic this year, and start with the very least, and try to do, I guess, I don't know, trying to maximize the the power |
| 41 | 00:07:40 --> 00:07:51 | and efficiency of proper money management and the leverage of compound interest doing the same thing, which is the least in effort, but letting the computations |
| 42 | 00:07:52 --> 00:08:05 | and effects of proper money management using compound interest to do all the heavy lifting for me. So right away, we're at about 40,000, or $40,000. So the |
| 43 | 00:08:05 --> 00:08:14 | number one day trader on YouTube, with the 10 contracts, or the 10 accounts, this is what they should be doing if they're the number one day trader on |
| 44 | 00:08:14 --> 00:08:25 | YouTube. And this is an annual salary, doing what you see a lot of the folks out there trying to do. Let me tell you something, as you know how to trade. And you |
| 45 | 00:08:25 --> 00:08:32 | can learn how to do that from my YouTube channel for free. It just takes time and effort. But if you learn how to do this, folks, you literally can go out |
| 46 | 00:08:32 --> 00:08:41 | there and become a millionaire in front of everyone and cancel anybody else's jawboning and you don't even need to use your own money, like you're these |
| 47 | 00:08:41 --> 00:08:52 | funded account companies out there. They're not gonna let you do this a lot, and you'll probably be banned. Okay. But these are the skill sets that are made |
| 48 | 00:08:52 --> 00:09:00 | available to you on this YouTube channel. And if it wasn't something that I believe that couldn't be done by everyone else out there to had enough time |
| 49 | 00:09:00 --> 00:09:10 | invested in trying to learn it, then I wouldn't say that it's possible. Now, is it possible for every one of you to do absolutely not, because most of you are |
| 50 | 00:09:10 --> 00:09:20 | going to quit, you're not going to be diligent about trading in training yourself and being disciplined. So you have to work that out. It's a new year if |
| 51 | 00:09:20 --> 00:09:31 | you haven't made resolutions to improve your personal responsibility, your accountability, and your discipline. These are all facets that go along with |
| 52 | 00:09:31 --> 00:09:40 | becoming a consistently profitable trader. If you don't have those traits, you need to acquire them because you won't be in this business long if you don't |
| 53 | 00:09:40 --> 00:09:52 | have them. So right away we've already smoked the average YouTuber, even when they are we're leveraging their multiple accounts, and eventually losing the |
| 54 | 00:09:52 --> 00:10:08 | accounts at a later time. So the math I was doing looking at this When the question was brought up, how long would it take for a seven figure real equity |
| 55 | 00:10:08 --> 00:10:22 | to be present. So that way, you could basically be done. Use the use the funded account companies, you don't have to do this. Like, all 10 in one company, like, |
| 56 | 00:10:22 --> 00:10:35 | but if the I'm a, I'm a math geek, okay, and a money management geek and obviously a trade nut. So I'm a little bit of a freak when it comes to finding |
| 57 | 00:10:35 --> 00:10:46 | intricate ways to do something better than anybody else. So what I would do is I would go with several companies, and try to do the $100,000 accounts, you don't |
| 58 | 00:10:46 --> 00:10:55 | need to monitor and 50 You can do this, obviously, with the smaller accounts too. But if you really know what you're doing, and you know how to trade and you |
| 59 | 00:10:55 --> 00:11:09 | can make really short order of your efforts in time and do things like this, if you really know how to trade within 2020 trades that are very, very high |
| 60 | 00:11:09 --> 00:11:19 | probability, very easy setups. When you have that you can do things like this, you know, it's, it's really easy to do once you know what it is I've taught you |
| 61 | 00:11:19 --> 00:11:27 | to do. And obviously, if you're making about $50,000, you're 20 of them net you out at a million dollars, then you can walk around your chest out and have a |
| 62 | 00:11:27 --> 00:11:33 | real reason to do so. Hope you found this insightful and I will talk to you next time. Be safe |